Overview
On March 16, 2016, the Obama administration issued another round of amendments to the Cuban sanctions program. The Treasury Department’s Office of Foreign Assets Control and the Commerce Department’s Bureau of Industry and Security released revisions to the Cuban Assets Control Regulations and the Export Administration Regulations, respectively, that further ease sanctions and export restrictions directed at the island nation. The amendments affect various areas of interest, including the financial sector, employment, travel, imports, communications, and more. This most recent announcement follows other significant changes implemented earlier this year and in 2015 as a result of changing US policy towards Cuba, as discussed here, here, and here. Read a detailed analysis of the developments affecting Cuba regulations here.
